The short answer
NHB RESIDEX’s 50-city composite Housing Price Index rose 7.0% year over year in Q1 FY 2026–27, covering April to June 2026, and 47 cities recorded an increase. The index is based on property valuation prices collected from banks and housing finance companies. That makes it a useful national direction signal, not a quote for a particular home or neighbourhood.
What the 7% figure counts
The National Housing Bank’s latest release reports a 2.7% quarter-on-quarter increase in the 50-city index. It also lists annual assessment-price index changes for seven major markets: Bengaluru 21.5%, Ahmedabad 7.9%, Chennai 10.8%, Hyderabad 5.2%, Kolkata 6.9%, Mumbai 6.2% and Pune 3.7%. Across all 50 cities, 47 indices rose; the release notes Faridabad at 24.4% higher year over year and Kalyan Dombivali 1.7% lower.
The spread matters as much as the national average. A composite increase does not mean every city, locality, property type or resale listing moved by 7%. Bengaluru’s figure is an assessment-price index reading. It should not be treated as evidence that every Bengaluru home gained 21.5% in market value.
Why this is not a transaction-price report
NHB says its HPI assessment-price series uses valuations collected from banks and housing finance companies. The release does not present an asking-price survey for each listing or a measure of what a buyer will pay for a specific unit. BestProp.ai’s reading is narrower: this index tracks the direction of valuation inputs across a broad city sample, while a purchase decision still needs comparable transactions, property condition, location and deal terms.
That distinction also separates this release from sales, launches and inventory reports. BestProp.ai’s earlier national market coverage looks at demand and available stock. RESIDEX adds a different measurement: price-index movement, not the number of homes sold or launched.
How a buyer can use the release
Use the 7% reading as context for a broad market conversation, then narrow the question. For a shortlisted home, compare recent registered transactions where accessible, ask the lender or valuer what comparable properties informed its estimate, and separate the index’s city average from the exact micro-market. If an agent uses the national index to justify one unit’s asking price, ask for local evidence that can be checked independently.
Did home prices rise in every city?
No. NHB reports increases in 47 of the 50 cities in Q1 FY27.
Does NHB RESIDEX tell me what a flat is worth?
No. It is a city-level index based on valuation prices collected from banks and housing finance companies. It is not a valuation of an individual home.
Source and scope
The figures and stated methodology come from the National Housing Bank’s April–June 2026 release. The interpretation above distinguishes that assessment-price index from an individual sale or listing; it does not forecast future prices.